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Having Trouble Showing ROI of Cannes Meetings?

Having Trouble Showing ROI of Cannes Meetings?

The annual pilgrimage to the land of Rose and Yachts is less than a week away.  By now you’ve pulled contact lists and are finalizing the schedule of client and agency meetings.  Surely these are important meetings.  And then there’s the informal meetings that can be even more important.  But this is an expensive endeavor and corporate wants to see an ROI.  There’s always the argument that attendance is the price to pay to remain relevant and hip, but that’s not quantifiable.  See how boostr can improve visibility into your team’s meetings and drive accountability.

We’ve worked at numerous media companies trying to prove, “this meeting caused that” great thing.  It’s hard, the data doesn’t always pencil out.  Best case someone’s going to the CRM to pull lists, meeting reports and will end up with the same conclusions as last year, we had some important meetings and we’re in the game.  This year why not take a different approach and look at some new metrics that could show it was a success and possibly have an ROI.  Try any of the following to see the before and after impact of your efforts.

  1. Increased RFP Volume & Win Rates – let’s say you nail the big picture pitch with the agency at Cannes and they’re as excited as your team. Baseline your prior RFP volume and win rates vs. the next 6 months, we’ve seen examples where a great meeting with the right people in the room can make an impact.
  2. Increased Meeting Quality Score – there’s a difference between meeting with a Principle or Supervisor than a junior media buyer. Cannes is ripe with meetings full of the former.  Score your meeting quality based on the level of decision makers both at Cannes and during the course of the year.  Then analyze trends across the higher quality meetings and correlation with business from those accounts.
  3. Deal Impact – there’s always that stuck, stalled or must win deal the team is trying to get over the line. Low hanging ROI fruit is often advancing that deal at Cannes.  Typically this effort can produce an ROI for the whole team’s attendance.
  4. Strategic Accounts – find a handful of strategic growth accounts or agencies you’re meeting with at Cannes and commit to tracking KPIs with these post Cannes. After 3-6 months, it may be possible to connect your efforts with increased spend.

 

Finally, quite possibly the most important outcome from Cannes is follow thru.  Don’t lose accountability for follow thru with your team.  Make sure all the Cannes meetings are captured in your CRM with next steps and measure the follow thru. Don’t lose this data to another google spreadsheet.  Contact us to see how boostr’s unique meeting tracking and mobile app can drive meeting analytics and accountability to prove Cannes was a success.